UK assesses ‘no-deal’ effects

The UK government continues issue warnings of “no-deal” Brexit would be damaging fo the economy, but acknowledged that Prime Minister Theresa May’s  draft approved by the EU, but opposed by many of her own political family, would also leave the economy worse off than staying in the EU.

In a scenario endorsing the agreement May has reached with 27 European Union leaders in Brussels at Article 50 Summit, the national output would be 2.1 percent smaller in just over 15 years’ time than if Britain remained in the bloc, the government said.

But in case of no deal departure, it would be 7.7 percent smaller.

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